Four days after super storm Sandy blacked out millions of homes and businesses in the northeastern U.S., complaints are rising from customers who may have to wait as much as two weeks longer to see power restored.
American Electric Power Co., which delivers electricity to more than 5 million customers in 11 states, said third-quarter profit fell 48 percent on customer defections, storm clean-up costs and sluggish demand for electricity.
A damaged Florida nuclear plant that spurred a boardroom coup at Duke Energy Corp. in July risks getting scrapped unless the power company can justify spending more than $1.3 billion on the costliest-ever U.S. atomic repair.
Constellation Energy Group Inc. , the Baltimore-based utility owner, reported a third-quarter loss of $1.41 billion as it wrote down the value of its stake in nuclear plants jointly owned with Electricite de France SA.
Duke Energy Corp. said Bill Johnson won’t take over as chief executive officer as planned after its $17.8 billion takeover of Progress Energy Inc. Instead, James Rogers will continue as chairman and CEO of the combined companies.
The $99 trillion U.S. natural-gas industry, led by Exxon Mobil Corp . and Chesapeake Energy Corp ., is prepared for a surge in demand as Japan ’s nuclear crisis shakes confidence in atomic energy, executives said.
Dynegy Inc. , the third-largest U.S. independent power producer, may need to sell itself piece by piece after Blackstone Group LP ’s $604.5 million offer to buy the whole company was rejected, analysts said.